v3.25.4
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2025
Fair value measurements [Abstract]  
Disclosure of fair value measurement of assets a)     Assets and Liabilities Measured at Fair Value on a Recurring Basis
Fair Value Measurements
 
 
 
 
At December 31, 2025
Quoted Prices in
Active Markets for
Identical Assets
Significant Other
Observable Inputs
Significant
Unobservable Inputs
Aggregate Fair
Value
(Level 1)
(Level 2)
(Level 3)
Contingent consideration3
$—
$—
$240
$240
Other investments1
131
131
Derivatives2
(386)
(386)
Receivables from provisional copper and gold sales
250
250
Receivable from NOVAGOLD4
168
168
$131
($136)
$408
$403
Fair Value Measurements
 
 
 
 
At December 31, 2024
Quoted Prices in
Active Markets for
Identical Assets
Significant Other
Observable Inputs
Significant
Unobservable Inputs
Aggregate Fair
Value
(Level 1)
(Level 2)
(Level 3)
Contingent consideration3
$—
$—
$58
$58
Other investments1
42
42
Receivables from provisional copper and gold sales
204
204
$42
$204
$58
$304
1     Includes equity investments in other mining companies.
2       Refer to note 25c for further details.
3       2025 primarily includes contingent consideration relating to the Tongon mine, Norte Abierto project, Hemlo mine and Alturas project. 2024 primarily includes
contingent consideration relating to the Norte Abierto project and has been changed to include contingent consideration.
4       Refer to note 4 for further details.
b)   Fair Values of Financial Assets and Liabilities
  
At December 31, 2025
At December 31, 2024
Carrying amount
Estimated fair value
Carrying amount
Estimated fair value
Financial assets
Other assets1
$940
$940
$891
$891
Other investments2
131
131
42
42
  Contingent consideration3
240
240
58
58
 
$1,311
$1,311
$991
$991
Financial liabilities
Debt4
$4,703
$4,970
$4,729
$4,821
  Derivative liabilities5
386
386
  Other liabilities
803
803
595
595
$5,892
$6,159
$5,324
$5,416
1Includes restricted cash and amounts due from our partners and joint ventures.
2Includes equity investments in other mining companies. Recorded at fair value. Quoted market prices are used to determine fair value.
32025 primarily includes contingent consideration relating to the Tongon mine, Norte Abierto project, Hemlo mine and Alturas project. 2024 primarily includes
contingent consideration relating to the Norte Abierto project and have been changed to include contingent consideration.
4Debt is generally recorded at amortized cost. The fair value of debt is primarily determined using quoted market prices. Balance includes both current and long-
term portions of debt.
5Refer to note 25 for further details.
 
The fair values of the Company’s remaining financial assets and liabilities, which include cash and equivalents, accounts
receivable and trade and other payables, approximate their carrying values due to their short-term nature. We do not offset
financial assets with financial liabilities.
Disclosure of fair value measurement of financial assets and liabilities Fair Values of Financial Assets and Liabilities
  
At December 31, 2025
At December 31, 2024
Carrying amount
Estimated fair value
Carrying amount
Estimated fair value
Financial assets
Other assets1
$940
$940
$891
$891
Other investments2
131
131
42
42
  Contingent consideration3
240
240
58
58
 
$1,311
$1,311
$991
$991
Financial liabilities
Debt4
$4,703
$4,970
$4,729
$4,821
  Derivative liabilities5
386
386
  Other liabilities
803
803
595
595
$5,892
$6,159
$5,324
$5,416
1Includes restricted cash and amounts due from our partners and joint ventures.
2Includes equity investments in other mining companies. Recorded at fair value. Quoted market prices are used to determine fair value.
32025 primarily includes contingent consideration relating to the Tongon mine, Norte Abierto project, Hemlo mine and Alturas project. 2024 primarily includes
contingent consideration relating to the Norte Abierto project and have been changed to include contingent consideration.
4Debt is generally recorded at amortized cost. The fair value of debt is primarily determined using quoted market prices. Balance includes both current and long-
term portions of debt.
5Refer to note 25 for further details.